Bonding. A government method of borrowing for large public works projects. Bonds generally mature in 30 years and require repayment with interest.
Bonding is an effective mechanism for funding big projects that benefit future generations, like building new highways. If a road lasts 30 years, stretching payment for its construction to span its useful life makes sense.
This year, nearly a billion dollars in new bonding has been proposed and is now being debated in the state legislature. In light of our current budget shortfall, and to preserve the state's bond rating, the governor wants to limit borrowing this session. Ever eager to bring home the pork, the legislature wants to see how high they can push the numbers. Several of the projects they want to fund beg evaluation of their necessity, especially considering that the current budget already spends more than available revenues.
Frank Moe (DFL – 4A) wants over $13.5 million for new state trails and Melissa Hortman (DFL – 47B) tacked on another $2.1 million for trails in Anoka County. Throw in another $2.4 million for other non-metro trails and we’re looking at almost $20 million for trails.
Shelly Madore (DFL – 37A) wanted to borrow $5 million for a Minnesota Zoo “Master Plan.” She only got $1 million in the omnibus bonding bill for pre-design and design of the “Master Plan,” but not to worry. The Zoo will still get a nice piece of the bonding package with another $8.5 million for “asset preservation.”
Thanks to Alice Hausman (DFL - 66B), Como Zoo is set to receive $11 million for new gorilla cages and Mike Jaros (DFL – 7B) didn’t miss bringing back a piece of the zoo pie, snagging $1.2 million for polar bears at the Duluth/Superior Zoo.
Kim Norton (DFL – 29B) is looking to bring home $4 million to expand a volleyball court in Rochester (don’t you just need sand and a net?) and Scott Kranz (DFL – 51A) wants a million to fix up a soccer field in Blaine for a total of $5 million interest-bearing state dollars going to local, amateur sports facilities.
Tony Sertich (DFL – 5B) is trying to snag half-a-million for the town of Floodwood to acquire land on which to build a business park. A few questions might come to mind with this one. First, why does the state care whether Floodwood has a business park? Second, where the heck is Floodwood? And third, why is government purchasing land for what is inherently a private, commercial venture?
Minneapolis legislators are keen to bring home the bacon as well. Margaret Kelliher (DFL – 60A) seeks $3 million for predesign of renovations to Orchestra Hall. Thanks to Frank Hornstein (DFL – 60B) and Phyllis Kahn (DFL – 59B), Minneapolis gets $2 million to purchase new lighting that “preserves the natural night environment” (seems like that should be free). Another $70 million is appropriated for the Central Corridor light rail line.
The above examples only begin to scratch the surface, revealing the stockpiles of pork lurking inside the bonding bill. See the bill for yourself to find out what other questionable spending priorities legislators want to borrow money for in a deficit year.
Contact your elected officials and tell them to "Cut The Pork!"